Maturing Health Insurance Markets: Trends In European Insurance Industry

Maturing Health Insurance Markets: Trends In European Insurance Industry – Installed insurance is a flexible type that allows insurance coverage to be linked to the price of a product or service. It enables third-party providers to integrate insurtech products into their customer journey.

In our infographic (at the bottom of the page), we provide key statistics about the integrated insurance market. We also highlight the main benefits it can provide for insurers and consumers. Finally, we share information about the basic processes involved in comprehensive insurance.

Maturing Health Insurance Markets: Trends In European Insurance Industry


Maturing Health Insurance Markets: Trends In European Insurance Industry

For consumers, it improves the customer experience by simplifying the purchase of insurance. Thanks to personal insurance, customers can easily protect their purchases.

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The coverage gap is the difference between insured and uninsured losses. By offering coverage at the point of sale, consumers can buy insurance at the right time, thus closing the coverage gap.

On the other hand, insurers have better access to their customers with this flexible approach that creates many opportunities for them. In addition, insurers are able to customize their products and services based on existing data collected by third-party providers, which accurately reflect real risk. is a digital distribution solution for insurance companies and insurance brokers. The startup focuses on customer information, which allows building customer-centric products, an important lever to achieve success with embedded insurance products. It has a strong focus on customer experience, which allows its partners to optimize their acquisition costs. When starting to make data available to insurers and third-party platforms, it allows for more powerful conversion funnels.

Element Insurance is a technology-driven insurance company that provides white-collar solutions for digital insurance. The startup is one of the leaders in this new European market. Element Insurance has introduced comprehensive digital risk insurance for their client Manufaktur Augsburg. They offer four types of coverage (Basic, Classic, Premium and PremiumPlus coverage) for a period of 1-3 years. It includes complete features of all relevant components.

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Qover designs, builds and distributes innovative digital insurance solutions across Europe to support fast growing companies. It claims to have the most integrated international insurance product in Europe. Their insurance is included on the Angell Bikes website and is displayed for each order with a simple fee and a clear policy. Deliveroo is one of Qover’s oldest customers in terms of coverage passengers. All registered passengers can benefit from it with the driver app, and the cover is designed for everyone according to their data. Their insurance covers personal injury for all passengers, up to €5,000,000 for bodily injury and/or accidental damage per request per year.

Simplesurance creates a platform for easy access to insurance to unite the traditional insurance industry with digital commerce. Thanks to the support of industry players and investors, it has become a leading insurtech player. In May 2021, Simplesurance partnered with N26 to launch a bank-demand insurance product. Thanks to Simplesurance technology, N26 included home insurance, life insurance, pet insurance, bike insurance in their application.

Nuclicore is the latest codeless app for insurers. It is a software company, serving the insurance industry with an intelligent high-end software product. It is possible to build any API or application by drag and drop, without writing a single line of code. Nuclicore is 100% system-agnostic.

Maturing Health Insurance Markets: Trends In European Insurance Industry

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We use cookies to measure our audience, improve your experience and stay in touch with you. By continuing to browse our website, you consent to their use. AgreeRefusePrivacy policyHealthcare Insurance Market (By Provider: Public and Private; Coverage Type: Term Insurance and Life-time Coverage; Provider Type: Area of ​​Service, Preferred Provider Organizations, Exclusive Provider Organizations, and Care Organizations Health) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030

The global health insurance market is estimated at $1,899 billion in 2021 and is expected to reach $3,948.7 billion in 2030, set to grow at a compound annual growth rate (CAGR) of 7.6% during of conception 2021 to 2030. .

The global health insurance market is largely driven by various factors such as the prevalence of chronic diseases, high healthcare costs, disposable income, new product launches are more players, increasing awareness about health insurance, and improved services related to payment. . The prevalence of various chronic diseases and the associated costs of treatment are major factors that compel people to opt for health insurance. Major diseases and health risks covered by health insurance include road accidents, cancer, HIV, diabetes and heart disease to name a few. According to the International Agency for Research on Cancer, about 19.3 million new cancer cases and about 10 million cancer-related deaths will be reported in the year 2020, worldwide. According to the World Health Organization, diabetes is a major cause of blindness, kidney failure, heart attack and stroke. According to the WHO, traffic accidents are the leading cause of death for children and adults aged 5 to 29. All these health risks are the main drivers of the health insurance market. .

The global health insurance market is highly fragmented due to the presence of many market players. Therefore, various development strategies adopted by them such as mergers, acquisitions, and introduction of new products affect the market significantly as there are constant strategies implemented by the players. The development of various therapies and drugs to treat chronic diseases such as cancer, diabetes and cardiovascular diseases is expected to drive the health insurance market. Various modern and new treatments involve high costs so people who are aware of such modern treatments tend to buy a health insurance policy.

Mmb Health Trends 2023

The recent outbreak and rapid spread of the COVID-19 virus in 2020 has had a positive impact on the sale of health insurance policies. According to, a website for all types of insurance products, sold one million insurance policies between April and December 2020. The COVID-19 pandemic had made people aware of the importance of have a health insurance policy, such as medical. The cost of COVID-19 was very high in private hospitals in India.

According to the supplier, the public sector accounted for 56% of revenue in 2020 and is estimated to maintain its dominance over the forecast period. This is associated with increased public confidence and trust because the government itself acts as the main insurer and provider of services related to health care. For example, LIC Corporation of India and Medicare of the Federal government in the US. In addition, health insurance companies offer safety and operate at low costs.

On the other hand, the private sector is estimated to be the most promising during the forecast period. Private players come with enhanced health services and premium options for customers. In addition, certain inefficiencies associated with public health insurance companies are being overcome by private market players, therefore they are receiving more attention in the market. In addition, they offer higher benefits compared to the public sector.

Maturing Health Insurance Markets: Trends In European Insurance Industry

Based on the type of protection, the whole life protection segment accounted for more than 52% of the market share. People choose life insurance as an investment option that has many tax saving benefits. Moreover, the availability of a wide variety of life insurance policies offered by different market players caters to a wide range of customers with different needs.

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On the other hand, the term insurance segment is expected to show the highest CAGR during the forecast period. This is due to the availability of great benefits at a low price for customers. It includes health insurance plans that mostly cover the cost of treatment at health care facilities. Therefore, the prevalence of various chronic diseases is a major factor in this sector. This also provides safety and helps consumers protect their medical expenses.

Based on the type of service provider, preferred provider organizations accounted for more than 26% of the market share in 2020. The availability of multiple insurance plans offers a wide range of options regarding hospitals and doctors. you can choose from them. Consumers or insurance policy holders have complete freedom to choose their own doctor or hospital.

The point of sale segment is estimated to be the most promising during the forecast period. This is mainly due to the characteristics of the point of sale segment. It is a combination of a health care organization and a service provider organization, so you enjoy the benefits of both.

Based on region, North America accounted for 42% of the revenue share in 2020 and is estimated to maintain its dominance during the forecast period. North America is characterized by increased awareness of health care insurance benefits, rising incomes, prevalence of diseases, increasing population of senior citizens, increasing demand for surgical procedures. the latest in drugs, and increased health care costs. All these factors have increased the market growth in this area.

Uk Health Insurance Market

On the other hand, Asia Pacific

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